What is a title policy?
The City requires a Title Policy, also known as a Title Insurance Policy, that is specific to any and all easements/ROW being granted to the City per the plat or plat amendments that shows the City as an insured party. The amount of insurance will be determined by the cost of the land within the easement/ROW plus the cost of the improvements within the easement/ROW. The Title Policy will also need to include the Title Commitment Schedule B Part II Exceptions to show any existing conditions or encumbrances on the property. These exceptions will need to be specific to the easement/ROW.
The City typically needs a pro-forma (draft) Title Policy to be submitted with the review of the plat/plat amendments and Title Commitment, to provide comments on the Policy. Then, within 3 days of recordation of the plat or plat amendments, the applicant will pay the title company, have them issue the final Title Policy, and submit the executed policy to the City. For examples of a title insurance policy, contact your Development Engineering Project Manager.